Prada shows resilience in tough luxury market, hot weather weighs on shop traffic

By Reuters News

By Elisa Anzolin

- Italian luxury group Prada 1913.F on Thursday posted a 1% underlying growth in third-quarter revenue, broadly meeting market expectations and showing resilience as many peers reported declining sales amid a record-hot summer.

The underlying revenue growth excludes Versace, which Prada acquired in December last year. The group said the integration of the brand was "on track", ahead of the debut of the first collection by new creative director Pieter Mulier next year.

Extreme weather was the main factor behind weaker store traffic, Prada Chief Executive Andrea Guerra told an analyst call.

Prada experienced a significant delay in autumn-winter ready-to-wear sales during the quarter with demand picking up only in the last two-to-three weeks, Guerra said.

His words on the revenue impact of unusually warm weather echoed comments by Moncler executives on Wednesday.

Including Versace, group revenue totalled €1.49 billion ($1.67 billion) in the quarter, rising 11% year-on-year and matching a Visible Alpha analyst consensus.

The result was supported by continued growth in the Americas, albeit at a slower pace compared to the previous quarter.

Sales in the Asia-Pacific region were stable, as mainland China's weakness was offset by continued positive trends elsewhere in the region, the company said.

Revenue in Europe remained weak.

Miu Miu, the group's smaller brand which accounted for the bulk of consolidated revenue growth in 2025, posted its first quarterly decline in sales since the pandemic. Miu Miu's retail sales fell 3% in the quarter.

"The third quarter unfolded against a particularly challenging industry backdrop. In this context, the group showed good resilience", Guerra said in a statement.

Asked about long-held plans about a secondary listing in Milan, Chief Financial Officer Andrea Bonini said Prada had no updates to share.

"It's an option that is worth considering from time to time, but at the moment we are not in a position to share any news," Bonini told analysts.


($1 = 0.8908 euros)

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